Gafisa appoints new chairman of the board

Gafisaannounced the election and appointment by the Company’s Board of Directors of Odair Garcia Senra to succeed Caio Racy Mattar as chairman of the board, effective immediately. Mr. Senra is one of the most experienced executives in the Brazilian homebuilding industry, having had a successful career at Gafisa and its predecessor company spanning more than 40 years